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Legislative Update: May 21, 2018

Posted By Administration, Monday, May 21, 2018
A more detailed report with specific line-item information will be forthcoming in the next few days; however, we wanted to make sure that you had the latest information on economic development matters as the 2018 Session comes to a close.  

The Session ended minutes ahead of the midnight, May 20th Constitutional Deadline. All finance matters - from agriculture to transportation - were addressed in a single Omnibus Supplemental Finance Bill.

The concern with respect to economic development programs is that the House and Senate had both earmarked a significant majority from the Minnesota Investment Fund and Job Creation Fund for particular projects. This would have left very limited resources for the Department of Employment and Economic Development to respond to business development and job creation opportunities that would arise over the course of Fiscal Year 2019.  

In the end, the Conference Committee rejected most of the earmarks for MIF and JCF. This will ensure that the Department has a reasonable opportunity to respond to proposals.

On the bonding front, there were a number of DEED programs that received general obligation bonds. The Omnibus Capital Budget (Bonding) Bill included $5 million for the Business Development Public Infrastructure Program, $3 million for the Transportation Economic Development Program and $2 million for the Innovative Business Development Infrastructure Program.  

There was also a number of local infrastructure grants provided that will be administered by DEED. 

If you have any questions regarding our reports, please feel free to contact the Fryberger office at (651) 221-1044 or send an email to kwalli@fryberger.com, srichie@fryberger.com or dtomassoni@fryberger.com.  

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